Bitcoin Forum

I was wondering, how many BTC do anyone needs to own in order to become rich in 10 years.

 :)

As many as you can buy. The funny thing about "Rich", is that the more you have, the more you want

Rich is regional.  Where are you located?

People will never be satisfied with what they have,they will want to have more and want to earn more and more.according to me,well 21 bitcoins would be even for you to become rich.

Isnt bound to a number. Owning just 1 btc will be huge in 5 years from now.

You got that right.   But this is an impossible question to answer.  One ? Two?  A hundred, maybe?   It obviously all depends on the price of BTC in the future,  and none of us knows that.  My guess would be 10BTC.

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because all those who think this way are going to end up losing a lot of money.
in other words, in order to become rich, you need to invest a big amount. i see 21BTC and 10BTC in suggestions that is ~$37000 and $17500
and when you invest that much money in something (doesn't matter what) and they have fluctuations, specially in bitcoin with huge ones. you can not stay calm and happy.
lets say you bought 21BTC right now and price went down to $1600 you simply lose about $3000 and that is when you sell. then price goes up to $1700 and you buy again, you lose another amount of money. and so on.

instead of this mental pressure, just invest what you can afford to and hold it. if price goes down, no worries. if it goes up, no worries again :)

All i need in this life is 500k$. For me, it is enough to feel rich.

I don't care if it is 1btc=500k$ or 500btc=500k$. 500k$ is the constant, any other number which stands on the opposite side of the equation can change freely. Because of my aim is considerably high for average people (and me), I  consider myself as a long term investor. That's why I built a portfolio of various assets and when once of those loses value dramatically, i buy more of it.

I sometimes think, i wish i've bought 20 bitcoins when it was 200$ but it is pointless now because it is past time.

If you know the $ amount you can do a simple calculation.

There are many graphs out there showing the Bitcoins have increased rougly exponentially. Take one and look how many bitcoins you need in order to have $ 500.000 in lets say 2027.

Will all be speculation of course ;-)

First world, I'd venture to say $10 million is rich. $3-4 million would have you wanting for nothing without going bonkers for the rest of your life.

I will hazard a guess that you'd need a minimum of 2-300 BTC just to be sure if Bitcoin properly thrives. That could be insane overkill or still not enough, but that's what I'd be aiming for.

A lot of money never happens. In addition, prices will constantly increase and expenses will need more money.

Amen.

In almost any 3rd world country $1,000,000.00 makes you rich.

Here in downtown Toronto a million bucks barely buys you an old row house or crappy little condominium.

I'd consider $10M to be the absolute minimum to be considered rich. That's the point at which your money increases at a faster rate than you can spend it (without indulging in foolishness).

As such I'd say anything over 200 bitcoins should suffice, assuming it reaches $50K per coin by 2027. At the current price of $2440CAD per coin you'd be nearing half a million already and hopefully be a millionaire before the year is over.

A look at the all-time log chart shows that these figures are quite conservative.

You really 10 Bitcoin for a fairly long time in 10 years can turn into very good condition. Of course I understand that there are users who have much more capital, but for an ordinary Bitcoin user these are golden mountains.

You're not a true Bitcoiner if you keep looking at USD and you treat BTC like a way to obtain USD. The ultimate goal should be to drop USD completely in favor of BTC and be able to transact with cryptos everywhere you go starting from a public toilet and ending with a Bugatti dealership ;)

Also I can bet here and now that once you get $500 and start living on it, being able to buy all the things you need at the moment, you'll soon want more. You'll wish you had another $500k, because then you'd be able to also buy stuff for your wife, parents, kids, and so on. There's never enough money!

Canadian or USD? There's a small difference of about 300,000 depending on whether that money is Canadian or USD. I live in a small town so 1 million US would definitely be nice- I just don't like living in huge cities. My goal is to get ten Bitcoin by 2020, not as big as some people's but nonetheless that's what I'm aiming for.

This why when people ask about my exit strategy or when I plan to sell, I tell them I have no such plans.

I'll simply keep buying bitcoins on the dips with whatever I earn in fiat currencies and spend my coins only as need be to buy goods, services, and as much fiat cash as I need for anything I can't buy with Bitcoin.


$10M CAD would be enough for me.

Mind you, that could change if the Canadian dollar continues to devalue.

I don't really sweat it though because I keep the bulk of my monetary wealth in Bitcoin.

When I bought my first bitcoins, the USD and the CAD were at par. Over the years my coins have not only earned me an obscene amount on their own growth but also an additional 30% as a safe haven against CAD devaluation. Win-win.

It's the most immediate and convenient way of measuring Bitcoin's buying power. I don't have any plans to return to fiat, but if I feel like spending BTC then I want to know what I can get for what equivalent amount.

I still think that it will be US dollar to fall first, maybe not now but in 10-20 or more years it is serious possibility.
Canada seems to have more stable currency.

I share your opinion, I keep majority of my investment frozen in bitcoin.
Everyone tells me: why don't you diversify your investment portfolio and keep only a small fracture of money in Bitcoin?
It is so volatile, it can fall, there is no guarantee etc.

I usually answer them that storing fiat will only prevent inflation. Bitcoin from the other hand can bring me fortune in the future.

maybe i've been living in a third world country for too long without looking at what's happening in other countries but this doesn't look like a old row house to me. ;D

242 Margueretta St, Toronto
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386 Yonge St, Toronto
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386 Yonge St, Toronto

In my view I believe a person who holds a minimum of 10 bitcoin can be found rich in 10 years. I have made this prediction based on the experts view as well based on the price increase happen in relation to the increase of users and adoption happening around the world countries.

"Being rich is having money; being wealthy is having time." People will never ever be satisfied for what they have. True, right? But in my outlook there's no right number of BTC to own in order to become rich in 10 years cause in my opinion as long as you can afford to buy more and more, buy more. You'll never regret buying more bitcoin because at the end it's worth it.

Rich is mostly about what peer groups you (currently, and want to in future) hang around in, and your perceived position in that peer group.

Ive personally known multi-millionaire's having a few "rough years", and stressing over the fact they wont be able to afford their super expensive golf-club fee's ($50k) for that year and paranoid about "what will the other guys think and say about me when they're hitting some rounds and Im not there ?"  (seriously, this fella told me when he had a few stock market mishaps and was down about 50% on his earnings ).

another pov..
"Rich"
is most often defined as
"Having more money than your Wife's best-friend's Husband does"  ;)
(you can guess the reasons behind this definition).

Or, you could hang out with the Packers, and get offered a $50M bet on the toss of a coin..
https://www.google.com.au/search?q=kerry+packer+coin+toss

To most people, "Rich" means about 2x - 5x whatever they *currently earn.   
Which tells you that its not a number, its just a certain number of perceived steps up the financial ladder from *wherever you are right *now.

The problem is, as most people climb that ladder, they wind up their expenses at the same rate (or faster) as their income grows, and they find themselves with lots of money coming in, but still the same feeling of "only *just making it" as they had 10 years ago.   

Another big-$ bloke Ive known (I work with quite a lot of them) was worried about being able to afford to finish the total refurb on his CBD Penthouse Condo *and keeping up the repayments on an investment pub property he'd bought.. 

Being "Rich" is a state of mind, not a $ figure.

I think that if 1 BTC in 10 years would cost about 500,000 USD then with 20BTC you can get 10,000,000 that is been rich and wealthy because you willhave also free time.  So in my opinion 20 BTC will make you rich in 10 Years.

Own as much as you can, in my opinion 10 bitcoins should be the minimum target.
i want to own at least 25 bitcoins(i'm still working on it). :) hopefully in 10 years i would be able to buy a house with my precious bitcoins.

$500k in 10 years would be awesome!

That would be 2027. Until then two more halvings will have happened. Each halving ~doubling the price I think a price of half a million USD isn't possible as long as the US-Dollar doesn't hyperinflate. A price of $10.000 to $20.000 however is possible if Bitcoin will still be around, be the dominant coin which scales with having kept decentralized foundation.

It depends on your definition of rich. If you want to have a fancy cars, yacht, large mansions, then you will need a lot of bitcoins. But if you just want to live comfortably while doing the things you love then a few hundred bitcoins will do. This is if bitcoin continue to be valuable after ten years. Did you consider bitcoin losing value after those years?

Yes there are lot of things to be considered. But we are not seeing bitcoin prices just doubling around its halving, it may be getting 4x growth too (as per 2nd halving). It is highly expected bitcoin's future appreciations will be in exponential rate so millions would be possible if bitcoin will manage to dominate by 2027.

Personally I am very much confident that bitcoin will be with us and one bitcoin holders will be millionaires but people will not be patient enough to hold one bitcoin for another 10 years.

I had a good laugh reading about your 500k USD in 10 years. Do you guys realize that value of USD plunges every year? Inflation is so high, that 100 years ago people were earning 10 dollars per week. If you don't believe me there's a wage worker census available online (I used wages from the year 1905).  Now $10/h is considered low income. Do the math yourself to see how much the value of USD has decreased in 100 years.
10 years from now your 500k will buy you about half of what it does right now (or less), so it's safer look at value in the terms of cryptocurrencies. It's safe to assume that if you had an apartment worth 500k, sold it today and held, you wouldn't be able to buy it back in 10 years (even though it would be in a much worse shape after all this time), but if you invested it in BTC, you'd have enough to buy 2 (or more) new ones.

At 10 years with a value of about $100k/BTC, I'd say 50BTC and you never have to worry again

Depends how convenient Bitcoin is for real transactions.  If it ends up being a "settlement layer", I will probably convert gradually to spend for items that can't be bought with Bitcoins, and if it's too bad I might just convert the money I need into fiat while keeping most Bitcoin as a safe haven asset.  It's good to look at Bitcoin relative to USD because then you can judge how much it's grown over a certain period of time and it's clearer how much it's worth until it stabilises.

So as for USD, I would say that 1 million dollars looks super nice at first but let's break it down.  If you live fifty years after you have that much, you're left with just 20,000 dollars per year, which becomes worth less and less and time goes on unless you hold most in Bitcoin and protect yourself against fiat inflation.  If you invest and you manage to make 5% per year for example, you're talking about 50,000 dollars per year but you're subject to more risk.  In either case, you're not living the luxurious lifestyle that a million dollars brings to mind.

Therefore for practical purposes, ~10 million is rich.  It's surprising to see how easily people can throw away what seems like a lot of money if they have a lifetime to spend it.

Approx 1000-2000BTC. Either you bought at single digit levels or remain poor.
Even 20-50 BTC won't help much. Better sell now.

Ridiculous post

i like where you going with this :P and just how will you spend all this money
10 years is a long time and bitcoin is likely to be the most powerful currency during that time and price might grow 5 fold from what it is today..
I guess you want to be MEGA rich.

only one, if by rich you mean millionnaire..

It depends on what you mean by rich, I prefer to use the word millionaire since it is more specific, in order to be a millionaire in fiat in my country and supposing the price of bitcoin reaches 5000 dollars in those 10 years then I need less than 10BTC, so as you see I don’t need a crazy price for bitcoin or a ridiculous amount of coins.

Several factor are in this question of yours.

Main is where are you located I mean what is your country, if it some highly developed country then i would like to say it will take you 100 BTC with current price rate, if you in the middle maybe half so around 50 BTC, and for the last in low developed countries i would say less then 10 or maybe 5 BTC as high amount. This is really good question you mentioned and really is hard to answer it, my answer is just my opinion anyone can have his.

Well,i dont know exactly the number but my friend used to say that if we have 21 BTC in our wallet,then we could enjoy a retirement life.I am also trying for the past one year to join that 21 BTC group,but i have not even saved one BTC till now.

If BTC skyrocks to 100-500k $, the dollar will be in hyperinflation and your million $ (BTC equivalent) are worth not much more than now.
Atm in a normal western country you require 50-100k $ to live a normal life (without luxury).

To relax till your death (e.g. 40yr old male), you need at least 40yr of salary in BTC.
Let's assume the best case, that means you need at least 2Mio worth of BTC.

10k $ per BTC: 200 BTC

To become really rich, even 1000 BTC will probably not be enough.

That is not totally true, if there is hyperinflation it is obvious that 5000 at that moment will not buy the same that 5000 dollars buy now, but things that have a strong value will tend to reevaluate faster than inflation since everyone wants to exchange their fiat for something solid, like gold, silver, real estate, bitcoin.

i don't know how much you think is rich ?  1 million is rich? or 5 million $?

but  you'd better hold at least 100 bitcoins  and you will be rich in the future no doubt.

How much in USD or btc is rich to you? To me it would be a few million USD worth of btc.

If you buy in at current prices and hold for 10 years, i imagine the price would be much higher, 20 or 30x higher than it is now at least. Def a good thing to hold some.

Today, you will need to consistently hold on to approximately 150 bitcoin for 10 years to be safely worth well over $1million-USD.

Just to be sure you will be a millionaire after 10 years, you need to hold at least 1000 BTC.  It is better to make it a millionaire this early just to be sure that you will be a millionaire after 10 years.  Honestly, no one can say an exact amount since the price of bitcoin after 10 yeast is yet to be known.

As the price fluctuation is common with bitcoin we cannot make exact predictions of the price. Based on the price move people becomes millionaire or goes down ruining the life. I believe the price of bitcoin increases with respect to time. So surely holding a minimum of 100 bitcoin will make you richer in 10 years time. Experts have various price predictions starting from $4k to $50k in a short time period.

Not sure if you're aware of where we stand as we speak, but with 1000BTC you're already a millionaire right now ~ precisely $1,860,000.

I even think that at some point we'll see the $10,000 mark per coin. If I aim to be a millionaire at some point in the far future, I'll make sure to have exactly that many coins (100BTC).

However, I am more a down to earth person. My main target is to make profits every year in order to see my wealth increase. If I at some point become a millionaire, it's perfect of course, but it's not my main priority.

Awesome math skills, bro.

If I had 1000 BTC right now I would extract 1 million dollars for my caravan holidays and then sit on the remaining few hundred. That's the essence of a win win.

Are you people sure ? Because with prices at $1000 itself, 1000 bitcoins will get you 1 million US dollars. But right now bitcoin prices are being traded around $1800, but you people are talking about the need of 1000 still.

I wonder you might be targeting about $ 10 million as after 10 years bitcoin might be having value more than $10k price levels in that case you may need around 100 bitcoins only.

hmm perhaps look to diversify - some altcoins can give you 1000% return.

Why wait 10 years to be rich? If you have put in like $5,000 in ripple earlier this year you would have been up hundreds of grand

That's wonderfully easy to say in retrospect. $5000 is a substantial amount to place on a wild bet when you're already taking a wild bet with BTC.

Someone that can put 5000 in a shot in the dark has no problems with money, we talk about bitcoin because it is the most solid of all the crypto currencies, you can invest in altcoins if you want, but you will have no way to know if you are going to be successful at all and you could lose all your money.

How do you define rich?

For me its someone, who is independant of corporate/state employment to meet basic needs.

I could manage to do that on 15k USD a year. Less than 100k would be needed for turning your life around like that. Thats for me. 10 bitcoins should be enough.

However, do you need your own harem, jetplane and private army of mercenaries? Then, maybe even 1000 bitcoins wont be enough to pay for everything you consider to be privilege of "the rich"...

Those are two extremes. You'd have to give up a lot to live on $15k / year, which defeats the meaning of being rich. For me, if I'm not living where I want to live, I'm not rich no matter the amount of money I have. I'd rather work to live (rent) in a nice Los Angeles beach city, than to be financially free in the middle of North Dakota.

This is why it is interesting the op asked for the amount of money you need to become rich since rich means different things to different people, a person may be broke but if he has his family he may consider himself rich, some may need very few things to consider themselves rich while some others will need a lot more than that.

Let say 1000 bitcoin is enough for me to brcome rich after 10 years i see my self having a good business that related to bitcoin and people would love that for sure and our technology become more greater worldwide that can use bitcoin anywhere we want.

As a matter of fact we are certainly rich in our own way if you have obtain about 0.1 btc I think that is a lot you can get for now, then you can surely take up trading so your threshold would increase and keeping this up may end up in some great amount of bitcoin just be ready for certain failures, if you have a BTC you can simply just invest with it and see for yourself that you are getting rich in no time, because of the of bitcoin right now you can really see a good fortune for you.

10 Toyota in the financial market is quite a long time and predict what will happen with the Bitcoin crypto currency in particular Nobody can predict to within 100%, but there are all sorts of predictions about the future of Bitcoin that we should expect very good prices for crypto currency. Hurray today we see a good stable growth and there is hope that until the end, Bitcoin will still cost $ 2000.

if you think being rich is having x USD and you think price will be y usd per coin in ten years, you have very simple math to get the answer.

For example 1mln and 20kper coin will give 50 BTC.

My answer would be what is the effort I'm ready to make to become rich ?

I'm lazy, I'd like to be rich to never have to work again, maybe have people working for me too (not sure I'd actually like that, though). Doesn't mean I would not do anything to earn more, I can see myself being a business angel, or just investing in companies and real estate, but not anything where I need to be at my desk every morning.

The consequence of my laziness though is that I'm not going to work like crazy to achieve that goal, it would defeat the purpose. I take overtime at work when possible, but I'm not starting a side business to earn more money, even if I could.

Right now I have a 2 digits number of bitcoins and have been holding them for more than a year, I'm not putting more into it because I feel I can't risk it, I want to buy a house soon. Once that is done, I might invest more, I like the goal of owning 21 BTC, 42 is also a number I like.

It is upto the each users wishes that how much their wish are to fullfill that much they will be needing it, if what other and i myself is thinking that the price of each bitcoin going to be around $10000 + each then i just need 10 btc to settle my life because when i convert them to my fiat currency that is more then enough to control my wishes.

I usually don't post in such silly threads but wait guys, what gives you guarantee that bicoin's price will grow? Hope everyone here knows how changeable it is. So also there is a chanse it will fall. On another hand, for some people rich is millionare, for some - billionare and etc, so this isn't correct termine. Forget future dreams and think on current real time.

Forecasts ungrateful business, I would not have become so far to start my story about what I think about Bitcoin and its future. Of course, everyone hopes for nothing but positive moments and a high price, but how we all understand reality can be completely different

You are right mate, although we already got what we want as well as what we need we are still aiming something more we will still look for much greater . At the moment that we have nothing we often think that such amount would be enough whether it is 20 btc or higher than that but after achieving that we will have a new mindset which is to aim more than we have .

Nah that's bs. Bitcoins are going to the moon and no one can stop them. The rise is going vertical next year. Mark my words. You can quote me on that. 2018 will be a never ending vertical chart with tiny little red blips here and there when whales offload for some profits.

There is no guarantee and while past results cannot predict future results using the past is the only way we can try to extrapolate the future and using the past of bitcoin there is one thing that holds true, in the long term bitcoin always grows, there are some ups and downs ion the short term but that is to be expected.

There is rich and then there is rich. It all depends on a lot of parameters.

For me rich would be 5-6 millions euros, enough to buy flats bringing me a steady and safe income, and to buy a very nice house or two, nice cars, live without having to look at my finances all the time...

For others it would be 10 times that, enough to live in a great house in the middle of an expensive city, drive supercars and fuck models. I wouldn't say no to that of course.

For others still it could be 10 times less, 500K€ would be rich, in developing countries especially.

In 10 years if BTC is still there I expect it to be worth at least 10000€. 5mil gives us 500BTC.

Basically to be rich in 10 years, I would need to be almost rich today.

Or BTC might rise much more, then all bets are off.

Make 2030 to be the deadline, so that you can be rich even with very few number of bitcoin. Probably 5-10 btc will make you rich providing all that you expecting to have in your life. Because by that time with assurance the price will be big as we'll be crossing three halving which causes the mining decrease and a increase in value because of the continued mass adoption all around the globe.

2030 must be too far by considering here many people are targeting 2020 or at least 2025. But the reason, you are providing must be valid because whatever will be happening are not (like legalization by few countries) but halving will definitely make bitcoin into flying toward moon.

There are few expert's speculation that bitcoin will be having million dollar value within next five years, if we go along with this speculation then by 2030 bitcoin will be having value round 20 millions. Too big to consider for achiving richness !

You can't fight the future. Either bitcoin succeeds or we're all screwed anyway.

moar!

Yes I agree the rich is basically a level of every individual that he/she defines in their mind to what extent they earn money and can say that they are rich now. Everyone in this regard has a personal opinion; also if we say that it doesn’t require you to be rich to buy a bitcoin I think this will be wrong. A person holding a single bitcoin can be rich according to his thinking and a person holding 10 bitcoins may not consider himself as the rich one because of his understanding and satisfaction level.

Being rich in terms of money value as well property holding and other sophisticated style of living varies from person to person. At the same time on an average we can have a calculated amount to make one to be rich. On that stance I think around 20 bitcoins might be required to be rich. Even person with a single bitcoin might also be rich. Nothing to get surprised if something happens.

Probably around 1 BTC per coin you are trading is the least you could invest in, and when you say rich like how much are we talking about here?  How many figures because there are some who are contented of profiting around half a million and they can say they are rich.

You can try to join the 21 BTC club which is mostly mentioned in bitcoin discussions.My friend used to say to me that his aim is to join the 21 BTC group so that he could enjoy a happy retirement life.He has saved almost 10 BTC now.But with today's high price of bitcoin,i think 10 BTC is enough to get rich.